Northamptonshire County Council and Northamptonshire Enterprise Partnership are delighted to launch the second funding round for the INV-ENT programme, which will be open for applications from Thursday 3rd May 2012.

INV-ENT (The Innovation and Enterprise Fund) will support local businesses and encourage economic development and innovation in the county. INV-ENT is a locally funded initiative which will enable eligible businesses to grow and create jobs via a business rate rebate of up to £20,000 for reinvestment in the business.

Following the success of the programme, which was launched in October 2011, a further £450,000 is being made available in 2012/2013, which is enough to support at least 22 local businesses to grow. All small and medium sized businesses in Northamptonshire are able to apply with a particular emphasis on businesses in the high growth and advanced technology sectors.

Cllr Jim Harker, Leader of Northamptonshire County Council, said: “The INV-ENT initiative is part of a wider £2m package of measures funded by the County Council’s prosperity fund to support local businesses and create new jobs.

“In these tough times it is vital that we help to create the conditions which promote innovation and enterprise and support local businesses to grow. The initiative has been tremendously successful so far and I’m delighted that it can be extended for another year and the funding can be increased.”

The first funding round resulted in 11 successful applications from local businesses receiving just over £150,000 in total, which will help create 20 jobs and 10 apprenticeships in 2012/2013, and will help safeguard seven jobs.

Towcester-based Diamond Hard Surfaces Ltd was awarded just under £5,000 in the first funding round. Chris Walker, CEO of Diamond Hard Surfaces Ltd said:

“As an SME, Diamond Hard Surfaces Ltd has finite resources to fund new initiatives, so we have to be very selective and ensure that new products or services we introduce will meet customer’s needs and generate revenue.  The INV-ENT funding we have received will allow us to develop a new offering to customers in the Oil and Gas industry. This will assist us in retaining our existing customers and attracting new ones by offering a new innovative added-value service.”

The principal focus of the fund is to support businesses in high-growth and advanced technology-led sectors, although applications from other business sectors will be considered.

To request an application form and guidance notes, please contact Fiona Galbraith

Applications must be received by 5pm on Friday 1^st June 2012.

Click here to download the application pack